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A  bill  to  be  en 
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[House  Bill,  No.  3.] 

HOUSE,  Sept.  4,  1862. — Read  first  and  second  times,  taken  up, 
postponed  till  Saturday,  Sept.  6th,  and  ordered  to  be  printed.  To  be 
considered  day  after  day  until  disposed  of;  agreed  to. 

[By  Mr.  Kenner,  from  Committee  on  Ways  and  Means.] 


A.  BILL 

To  be  entitled  An  Act  to  provide  for  the  further  issue  of 

Treasury  Notes. 

1  Section  1.  The  Congress  of  the  Confederate  States  of 

2  America  do  enact,  That  the   Secretary  of  the  Treasury 

3  be,  and  he  is  hereby  authorized,  from  time  to  time,  to 

4  issue  in  addition  to  the  Bonds,  Certificates  of  Stock,  and 

5  Treasury  Notes  already  authorized  by  law,  such  addi- 

6  tional  amount  of  the  same  as  may  be  required  to  pay 

7  the  appropriations  made  by  Congress  at  its  last  and  pre- 

8  sent  sessions,  to  be  issued  under  the  same  forms,  condi- 

9  tions  and  restrictions  as  are,  or  may  be,  provided  by  law  ; 

10  the  Bonds  and  Certificates  of  Stock  to  be  issued  in  pre- 

11  ference  in  all  cases  where  they  can  be  used  ;  and  where 


12  they  cannot,   the  deficiency  to  be  supplied  by  Treasury 

13  Notes. 

1  Sec.  2.  The  Secretary  of  the  Treasury  is  also  author- 

2  ized  to  issue  Treasury  Notes  of  the  denomination  of  fifty 

3  dollars,  bearing  interest  at  the  rate  of  one  cent  per  day, 

4  the  said  notes  to  be  payable  at  the  same  time  as  other 

5  Treasury  Notes,  and  to  be  receivable  in  payment  of  all 

6  public  dues,  except  the  export  duty  on  cotton. 

1  Sec.  3.  The  Secretary  of  the  Treasury  is  authorized  to 

2  pay  annually  the  interest  accruing  on  the  first  of  Janu- 

3  ary  on  all  interest-bearing  Treasury  Notes,  and  to  make 

4  all  proper  regulations  in  relation  to  such  payment. 

1  Sec.  4.  The  issue  of  Treasury  Notes  under  the  denom- 

2  ination  of  five  dollais  is  authorized  to  be  extended  to  ten 

3  millions  of  dollars. 

AMENDMENT 

By  Mr.  Machen,  in  lieu  of  last  section. 

1  That  the  accumulating  interest  upon  all  such  issues 

2  shall  be  held  to  be  due  on  the  first  day  of  January  in 

3  each  year,  and  shall  thereafter  bear  interest  at  the  same 

4  rate  as  the  principal. 


[House.] 
AMENDMENT 

Proposed  by  Mr.  Dupre  to  Senate  Bill  to  provide  for  the  further  issue 
of  treasury  notes  and  for  other  purposes. 

1  Section  1.  That  in  lieu  of  the  power  heretofore  given  by  law 

2  to  the  Secretary  of  the  Treasury  to  issue  treasury  notes,  he  shall 

3  be  authorized  to   issue,  monthly,  an  amount  of  such   notes,  not 

4  exceeding  fifty  millions  of  dollars,  which  shall   be   receivable  in 

5  payment  of  all   public  dues,  except   the  duty  on  cotton,  provided 

6  for   in   the   5th   section  of  the   act  entitled    "An   Act   to   raise 

7  money  for  the  support  of  the  Government,  and  to  provide  for 
S  the  defence  of  the  Confederate  States  cf  America,"  approved  the 
9     28th  of  February,  1861.     These   notes   shall   be  made   payable 

10  twelve  months  after  date  of  their  issue;   and  if  not  then   paid, 

ft 

1 1  shall  be  funded  in  Confederate   States  bond  or  stock,  bearing  six 

12  per  cent,  yearly  interest,  and   made   payable   in   not   more   than 

13  fifty,  nor  less  than  thirty  years,  according  to  such  plan  as  may 

14  be  adjusted  by  the  Secretary  of  the  Treasury. 

1  Sec  2.  Be  it  further  enacted,  That  the  Secretary  of  the  Trea- 

2  sury  is  directed  to  apply  to  the  payment  of  the  interest  of  the  said 

3  notes,  which  may  not   be   paid   at  their  maturity,  all   the   impost 

4  duties,  which  may  be  received  during  the  pending  of  the  war  ;  and 

5  if  these  are  not  sufficient,  the  same  shall  be  paid  first,  out  of  any 

6  moneys  collected  by  taxation  for  the  payment  of  the  public  debt 

7  and   its   interest,  and   out  of  export  duties,  the  special   duty  on 

8  cotton,  referred  to  in  the  foregoing  section,  excepted. 


Hollinger  Corp. 
pH8.5 


